(Reuters) - Alcoa's debt spreads widened after the company said on Monday it would make a hostile bid for Alcan for nearly $27 billion, after talks between the aluminum rivals failed to lead to a deal. For details, see [ID:nN07326455].
"In a hostile offer the predator company usually has to make a higher offer to appease the management team and the investors of the target," said Chris Snow, analyst at CreditSights in New York.
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